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Coins, Currency, and Medals

The Museum possesses one of the largest numismatic collections in the world. The collections include over 1 million objects, comprising coins, medals, decorations, and pieces of paper money. Among the many great rarities here are some of the world’s oldest coins, created 2,700 years ago. But the collection also includes the latest innovations in electronic monetary exchange, as well as beads, wampum, and other commodities once used as money. A special strength lies in artifacts that illustrate the development of money and medals in the United States. The American section includes many rare and significant coins, such as two of three known examples of the world's most valuable coin, the 1933 double eagle $20 gold piece.

In 1848, the largest single gold rush in history was just getting under way in California. This event triggered a mass migration of fortune hunters from around the world. The territory had only recently passed into American hands as an outcome of U.S. victory in the Mexican War. The new California military governor Col. R. B. Mason sent 230 ounces of native bullion to the Secretary of War, who in turn passed the gold on to the Mint.

Much of this first shipment went into large, honorific medals Congress authorized for the winning American generals in the war, Zachary Taylor and Winfield Scott. Scott's medal is in the Smithsonian Collection. The rest of the gold was used to make "quarter eagles," or 2½ dollar gold pieces. These became some of the most legendary coins in American numismatic history.

The basic design was standard: the head of Liberty was on one side, a somewhat bellicose eagle on the other. The mint had been striking quarter eagles with these designs for nearly a decade. But closer scrutiny showed that these coins had one odd feature: above the eagle on the reverse, the initials "CAL." These were added by means of a punch.

Precisely 1,389 quarter eagles marked with the CAL stamp were made. Less than 200 still exist. They bear poignant witness to the colorful history of the American West.

United States Mint, Philadelphia. Obverse: Head of Liberty facing right, unbound hair; date below. Reverse: Value within wreath, fraction (1/100) below. The silver center cent pattern was an attempt to create a cent worth its stated denomination, while doing away with a large, heavy copper coin. The silver plug was inserted to raise the intrinsic value.

Henry Voigt cut the dies. About a dozen of these coins are known to have been produced. The experiment was abandoned, probably due to the difficulty of manufacture. [reference no. Judd 1]

United States Mint, Philadelphia. Obverse: Head of Liberty facing left, with coronet; stars around, date below. Reverse: Eagle, denomination (TEN D.) U.S. Mint engraver Christian Gobrecht altered his Liberty head slightly in mid-1839. Previously, the Liberty's head had been tilted slightly forward. After that, the head was completely vertical: Liberty looks straight ahead rather than slightly down. Thus amended, the Gobrecht designs graced the eagle for the remainder of the 19th century and the first few years of the 20th. This single proof eagle is the only one known for the year 1840.

United States Mint, Philadelphia. Obverse: Head of Liberty facing left, with coronet; stars around, date below. Reverse: Eagle, denomination. Beyond this specimen, one other is rumored to exist, but that rumor remains unconfirmed.

United States Mint, Philadelphia. Obverse: Head of Liberty facing left, with coronet; stars around, date below. Reverse: Eagle, denomination. Three proof 1844 eagles, including this one, are recorded. One of the others is part of a set.